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Updated almost 7 years ago on . Most recent reply
Hypothetical question about losses from bad borrower.
If, hypothetically, I lend $400K unsecured and my borrower disappears off the grid, I will have a huge loss. Is that a loss I would be able to spread over several years for tax purposes?
It's doubtful this will happen, but if the sky falls someday in this what-if scenario, it's good to know what would happen.